Based on good technical signals, CBRE GROUP INC - A is potentially setting up for a breakout.

A possible breakout setup was detected on CBRE GROUP INC - A (NYSE:CBRE) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:CBRE.

What is the technical picture of NYSE:CBRE telling us.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, CBRE scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CBRE is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• CBRE is one of the better performing stocks in the Real Estate Management & Development industry, it outperforms 76% of 65 stocks in the same industry.
• CBRE is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so CBRE is lagging the market slightly.
• In the last month CBRE has a been trading in the 80.59 - 86.54 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the yearly performance of all stocks, we notice that CBRE is one of the better performing stocks in the market, outperforming 76% of all stocks. However, this relatively good performance is mostly due to a recent big move.

For an up to date full technical analysis you can check the technical report of CBRE

How does the Setup look for NYSE:CBRE

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:CBRE exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

CBRE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 84.94, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.